1.25-year H&S bottom on the weekly chart that with a decisive move above the resistance zone
today on good volume. The small congestion on the daily (with flag-like properties) did not see
much retracement and seems very bullish. I am long today @0.365 with a stop @0.310
My first target is a half-staff projection from the congestion with a target of 0.445 and will be watching
how it behaves around that level (if it gets there).
The measured move of the H&S is circa 0.615 and is my primary target.
Volume indicator (OBV & TMF) are supportive.
I am a primarily technical trader, but I cannot help mention that this company really looks
interesting. The project time-saving and energy cost savings they claim to provide are
really quite remarkable IMO. "Industry-disrupting"?
If I can hang in till the quarterly update I will consider attempting to hold a portion
longer term if I can if I can derisk and bank some profits. Till then it is just another trade for me.
GLTA
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